Tech stocks got off to a positive start Wednesday morning. The Nasdaq traded up about 1.3%, the S&P 500 was up 1.04% and the Dow traded 0.7% higher shortly after the opening bell. All three also closed higher on Tuesday.
Consumer cyclical stocks came out of the chute about 1.7% higher, while technology stocks traded up by around 1.5%. Ten of 11 market sectors were higher in the first few minutes of trading Wednesday morning.
Here are the 14 Nasdaq 100 index stocks that were making the biggest moves Wednesday morning. Gainers outnumbered decliners by about nine to one.
Zoom Video Communications Inc. (NASDAQ: ZM) traded up about 3.4%, at $147.43 in a 52-week range of $134.70 to $451.77. The company had no specific news Wednesday morning.
DexCom Inc. (NASDAQ: DXCM) traded up 3.4%, at $440.00 in a 52-week range of $318.45 to $659.45. The company had no specific news.
Illumina Inc. (NASDAQ: ILMN) traded up about 3.1%, at $365.77 in a 52-week range of $318.07 to $555.77. The company had no specific news.
Starbucks Corp. (NASDAQ: SBUX) traded up about 2.9%, at $9767 in a 52-week range of $93.79 to $126.32. On Monday, Bloomberg reported that the arabica coffee beans favored by Starbucks and most other coffee shops have reached a 22-year low. That means rising prices, and firms like Starbucks have more pricing power than small shops.
Premium Arabica coffee beans are up about 100% since January 2021. So what's going on? https://t.co/O6NzX9kgPq
— Bloomberg (@business) January 8, 2022
Lucid Group Inc. (NASDAQ: LCID) traded up about 3.3%, at $28.33 in a 52-week range of $16.12 to $64.86. The company had no specific news.
Airbnb Inc. (NASDAQ: ABNB) traded up about 3.6%, at $168.05 in a 52-week range of $129.71 to $219.94. BTIG Research lowered its rating on the stock from Buy to Neutral Tuesday.
JD.com Inc. (NASDAQ: JD) traded up about 3.5%, at $77.99 in a 52-week range of $61.65 to $108.29. The company had no specific news.
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